California housing crisis getting worse. Prices up 14% in 2024.

The housing crisis in California continues to get worse in 2024. With the prices of houses up 14% in 2024 in parts of Orange County, as buyers continue to be priced out of the market.

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[JayZ-toup]

Thats a $150, 000 house anywhere else. Absolutely absurd prices.

[FuzzyDice]

that's why you see 3 or 4 cars outside every house

[MikeHunt]

“Foreign Investors” from China due to their worsening economic situation to try and preserve their wealth…

[hp]

I live in Cali and you can’t even buy a two-story Dorito bag for $900K

[solomon]

Hey Nick, would be great to hear some research into who is still paying those crazy prices and why are they

[haydar]

Overseas investors are investing heavily real estate because of paper currencies value are falling fast

[JayZ-toup]

All forms of investors should be banned from the single family residence market. Homes for People not for corporations! Or investors!

[MsArri]

We left California two months ago for the Midwest. I Lived in San Diego for 12 years and grew up in Northern California. Even up North is getting expensive. We got a Bigger bang for our buck in a house in Ohio, while we could not have afforded a starter home in SoCal. The prices are beyond unaffordable.

[Wfhii]

Why aren’t you addressing Blackrock, Vanguard etc? And the real reason for what’s happening?

[JayZ-toup]

Major foreign investment in California real estate. China, Mexican Cartels.

[zakeryday]

I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.

[Lourdes-A.]

I live in the city of Riverside, and houses in my neighborhood are selling from $800K, 850K, to $900. These were houses mostly built in 1989, early 1990s, that originally sold for around 150K to $220K back then.

[EricaWaters-lrzw]

I'm looking forward to a potential housing crisis to make affordable purchases when I sell some properties in 2025. Additionally, I'm considering investing in stocks as a backup plan. Any suggestions on the optimal timing for making these investments? I've been noticing significant trading earnings, but there are concerns about the market being unstable and going through a dead cat bounce. Could you shed some light on why this market phenomenon occurs?

[mr.independent]

1.5 million dollars for that thing…… it may take the housing market to crash to get prices back in line

[bbustin]

I know Tustin… that house was constructed in 1950-60s …9k a month ? Stupid is what stupid does. They’ve learned from 2008. No one is allowed to fail … nor banks or homeowners. The govt will save you.

[bigjon]

1.5 mil for house in central ohio would be maybe 350-400k max

[mattdc]

No one’s putting down 20% to buy a home in CA. More like 50% or more. How? They recently sold and have lots of cash, they have lots of stock from work, or just have help from wealthy family members who benefitted from one of the above.

[galaxygolden]

Cool of you to stop in my hometown. Prices have always been crazy thanks to beaches / Disneyland / knotts berry farm / malls etc.. I had to leave to Riverside to move my life forward with my family. Can’t believe people are paying this much for homes though

[someguy]

I grew up in San Jose, CA back in the day. My parents sold the house in the mid 1980s for $125K and we moved to Colorado. We lived only about 25-30 minutes from downtown San Jose and you didn't even have to get on a freeway for the commute. I remember as a kid telling my dad you shouldn't sell it, but keep it and rent it out. He didn't want to deal with managing a rental property. I didn't realize the great real estate advice I was providing as a kid 🤣

[maryvegas]

We bought our first home in Tustin in 1992 for $230k. Sold it in 2004 for $610k and left CA. This house was 1600SF built in 1968. Now, the same house is supposedly over a million. Ridiculous.